US HY Credit Spreads: some might argue the Fed is driving a wedge between the market vs fundamentals…

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US HY Credit Spreads: some might argue the Fed is driving a wedge between the market vs fundamentals… https://t.co/Lwh0R9RgTW pic.twitter.com/YR2U9BHBrP — Topdown Charts (@topdowncharts) April 21, 2020 Summary •    The Fed’s backstop helped bring down credit spreads – both investment grade and high yield •    Banks appear positioned to make it through the Corona Crash … Read more

Coronavirus has mutated into at least 30 different strains new study finds

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The study was carried out by Professor Li Lanjuan and colleagues from Zhejiang University in Hangzhou, China and published in a non-peer reviewed paper released on website medRxiv.org on Sunday. A new study in China has found that the novel coronavirus has mutated into at least 30 different variations. The results showed that medical officials have vastly … Read more

Interactive Brokers (IBKR) Provides Statement on Crude Oil Contracts and Margin Loss; Recognizes Provisionary Loss of ~$88M

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https://www.streetinsider.com/Corporate+News/Interactive+Brokers+%28IBKR%29+Provides+Statement+on+Crude+Oil+Contracts+and+Margin+Loss/16767830.html Several Interactive Brokers LLC (“IBLLC”) customers held long positions in these CME and ICE Europe contracts, and as a result they incurred losses in excess of the equity in their accounts. IBLLC has fulfilled the firm’s required variation margin settlements with the respective clearinghouses on behalf of its customers. As a result, the Company … Read more

The Fed may have to buy used cars as well.

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The Fed may have to buy used cars as well. Worst decline in value since the global financial crisis & tech bust. The ripple effect on consumer’s buying power at large will be significant. Not looking good for car sales that are already down ~40% in March. pic.twitter.com/RaBd4vcOTY — Otavio (Tavi) Costa (@TaviCosta) April 21, … Read more

American Universities, the most overpriced in the world, show students how not to run a business. Many will go bankrupt

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Imagine 40 years ago. Colleges could stay afloat with costs at 1, revenues at 1.2. Now fast forward 40 years. Costs are 1.8, revenues are 4. They can’t get it done. Lesson, doesn’t matter how much you bring in if you allow incompetent bureaucrats to run things. via NPR Most campuses in the United States … Read more

Sweden has shut down the last of its Chinese state-sponsored teaching programmes as relations between the two countries deteriorate into hostility and mutual suspicion.

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via thetimes.co.uk Sweden has shut down the last of its Chinese state-sponsored teaching programmes as relations between the two countries deteriorate into hostility and mutual suspicion. It is believed to be the first European state to close all its Confucius institutes and classrooms, which teach Chinese language and culture with textbooks and funding from Beijing. Analysts regard the … Read more

WW3 Starts in 72 Hours, USA vs Iran

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Tic tac toe. 5D chess. Whos the proxy, and whos the mess? Use some logic, look about, things are whispering, if you doubt. Get some OIL in your lamp and coffee. Its going to be an interesting warmup to HOT WW3. Up, up, up it goes! Iran’s IRGC launches ‘1st military satellite’ into orbit Here, … Read more

Tucker: Trump’s immigration EO should go even further. During a pandemic where tens of millions are out of a job, this is the WORST moment that Americans should have to compete with foreign labor.

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Must Watch @TuckerCarlson Monologue: Trump's EO Fails To Protect American Jobs "There is only one point in handing out hundreds of thousands of these visas to foreign nationals & it is to placate big business." "If the point of this EO was to protect American jobs it failed." pic.twitter.com/XzFsoxpXbT — The Columbia Bugle 🇺🇸 (@ColumbiaBugle) … Read more

Tom Fitton: “ BREAKING: Obama did it. Today’s Senate “report” reconfirms Obama rushed out hit job on @RealDonaldTrump on Russia as one of his last major official acts. Abused entire intelligence system to try to destroy his successor. And his allies continue the sedition to this day.”

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BREAKING: Obama did it. Today's Senate "report" reconfirms Obama rushed out hit job on @RealDonaldTrump on Russia as one of his last major official acts. Abused entire intelligence system to try to destroy his successor. And his allies continue the sedition to this day. https://t.co/X2vCGMdb6f — Tom Fitton (@TomFitton) April 22, 2020 If DRVSGCOWBOYGEOTUS accomplished … Read more

We Don’t Have Markets Anymore

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by Patrick Watson The novel coronavirus is destroying human lives: almost 170,000 worldwide as I write this, including 40,000+ in the United States. These aren’t just numbers. They were people who were loved. Now they are gone. Next to that, all other effects are secondary. But some are still serious. For one, government actions and … Read more

Massive Unemployment And Deaths From Poverty Vs Cleaner Air: Life’s Full Of Trade-offs. Some Of Them Are Worth Less Than Others. It Depends How Much You Hate Humans, Doesn’t It?

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India’s virus lockdown gives world’s most polluted capital clear skies, clean air. NEW DELHI – Residents of New Delhi are experiencing the longest spell of clean air on record, according to government data, as a stringent lockdown to prevent the spread of novel coronavirus drastically cuts pollution in the world’s most polluted capital. With all transport … Read more

Harvard vows to KEEP $8.6M grant from $2.3 trillion stimulus ‘to help students’ despite Trump demanding the Ivy League college return it

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by chinita_atx I live a short walk from Harvard Sq. They should never have been given the money. They own so many buildings here, land, everything. They don’t need another dime of tax payer money Harvard should give back the money now. Their whole “endowment” system should be looked at! https://t.co/LcjOcsnCWT — Donald J. Trump … Read more

Gold ETF’s Offer Zero Wealth Protection

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by Egon von Greyerz In this important interview Egon von Greyerz of Matterhorn Asset Management AG, answers questions of Jan Kneist’s Investor Talk. Mine closures and selling restrictions are causing shortages of precious metals in the retail sector, but ETF’s are experiencing large inflows of funds. Where do they get the gold, if at all? … Read more

Delaware medical supplier says FEMA seized 400,000 N95 masks, now he’s out millions of dollars

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This is beyond incapability, it is straight corruption. WILMINGTON, Del. – As pleas for protective masks continue amid the coronavirus pandemic, a Delaware supplier of medical equipment is disputing the legality of what he said were federal seizures of hundreds of thousands of N95 respirators. George Gianforcaro, owner of the small, Newark, Delaware-based Indutex USA, said the Federal Emergency Management Agency did not pay him when it took … Read more

Pulling the Plug on NYPD Chief of Transportation (SARS/AIDS/Corona from CHINA)

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Coronavirus-ailing NYPD Chief of Transportation William T. Morris was expected to be pulled from life support after his family arrives at the hospital, The Post has learned. The 61-year-old, a three-star chief who oversaw traffic and highway patrol, was reportedly on life support earlier on Tuesday and doctors were waiting for his son before removing him, police … Read more